Max Co., Ltd. Financial Summary for the Six-Month Period Ended March 2027 (Second Quarter)

Performance Overview

Net sales for the second quarter rose substantially year on year, driven particularly by steady demand in industrial equipment and office equipment. By segment, Industrial Equipment recorded net sales of 42,563 million yen and operating income of 11,833 million yen, serving as the company's growth driver. The Office Equipment segment posted net sales of 11,219 million yen and segment profit of 1,834 million yen. HC equipment faced some challenges with net sales of 1,497 million yen. Adjusted consolidated operating income was 11,068 million yen, ordinary income was 11,172 million yen, and net income was 8,472 million yen. The full-year outlook was revised upward, and the dividend per share forecast was raised to 43 yen.

Outlook and Capital Policy

Full-year consolidated forecasts were revised upward after reviewing underlying assumptions. The dividend policy aims to maintain a return on equity-based payout ratio of 6.0% and a payout ratio target of 50%. Annual dividend per share is estimated at 43 yen. Attention should be paid to the financial structure given treasury stock acquisitions and increases in goodwill associated with subsidiary acquisitions. The impact related to newly acquired MAX Scandinavia AB (Bo Fastening AB) has been recorded in the Industrial Equipment segment, and bargain purchase gains have also been recognized.